April Jobs Expected To Top 1 Million As Consumers Boost The Economy

• US economists expect to see job creation in each of the next several months of over 1 million, as more Americans are vaccinated and the economy booms. According to Dow Jones, economists expect 1 million jobs were added in April, and the unemployment rate fell to 5.8% from 6% in March.
• April is the first month of the second quarter, which is expected to be the peak in terms of growth. The gross domestic product is expected to grow by 10% or greater. Mass vaccinations and the easing of business restrictions likely supported rapid job growth in virus-sensitive industries, including leisure and hospitality, retail, and education (public and private),” noted economists at Goldman Sachs.
• The April employment report is also being widely watched in markets because of the Fed’s pledge to keep its zero rates policy and other easing measures in place until it believes the job market has healed and inflation is picking up. But with increasing concerns about rising inflation, some investors believe a very strong job market could be a catalyst for the Fed.

(Source: CNBC News)